Thursday, August 23, 2007

Financial Health of the State

This was what the ‘White Paper’ on outstanding debt and debt servicing liabilities of the state as on 31st March 2007, released during the Independence Day by the government, had to say:

  1. Central Government debt = Rs. 463.62 Crores
  2. Internal debt including market borrowings and small savings loan from National Small Savings Fund = Rs. 1340.86 Crores
  3. General Provident Fund and Employees’ Group Insurance Fund = Rs. 531.92 Crores

Total outstanding debt and debt servicing liabilities = Rs. 2336.40 Crores

Phew, isn’t that huge chunk of money! With no clear revenue source in sight, how the government envisage to clear the debt? And without any significant development at sight, I wonder where has the central assistance of Rs. 4172.58 Crores (i.e., 90% grant component to the state, if Rs. 463.62 crores is the 10% loan component) been utilized? Now I guess I know where all the Central Assistance in the form of 90% grant goes. Debt servicing, of course!



    Sorrow to say the status of the politics in our state. Too selfish leaders in our society. Never thought for the welfare of the state. But checked everytime their pockets if is full or not.

  • taka

    financial health of our MLAs and ministers is at the moment in EXCELLENT condition due to the recent cash received by DK from NTPC.
    apparently each mla has received 10-20 lakh cash depending on his status for support till 2007 end.
    then next round chai paani kharcha :)

  • AG

    @ taka,
    "apparently each mla has received 10-20 lakh cash depending on his status for support till 2007 end."

    Quite a news!

    @ tara,
    guess, it's time we raise question to this swindling of public money by the politicians

  • STAR

    Yup, we need to stand and do something for the good of society. The foremost thing we need to do is educate the people. To educate, I mean, is not just a formal one. But to promote value education and ethical education to each and every person though it will be difficult at first.

    We need to know our responsibility.

  • AG

    @ tara,
    "We need to know our responsibility." - thats what I had been advocating all these times. Hope people realise their responsibilities soon.

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